Washington Trust Bank Sells 804 Shares of Deere & Company (NYSE:DE)

Washington Trust Bank reduced its position in Deere & Company (NYSE:DE - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,327 shares of the industrial products company's stock after selling 804 shares during the period. Washington Trust Bank's holdings in Deere & Company were worth $12,426,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. raised its position in shares of Deere & Company by 4.1% in the third quarter. First Horizon Advisors Inc. now owns 3,344 shares of the industrial products company's stock valued at $1,396,000 after purchasing an additional 131 shares during the period. Darwin Wealth Management LLC acquired a new position in Deere & Company in the 3rd quarter valued at about $47,000. King Luther Capital Management Corp raised its holdings in Deere & Company by 11.9% in the 3rd quarter. King Luther Capital Management Corp now owns 3,032 shares of the industrial products company's stock valued at $1,265,000 after acquiring an additional 322 shares during the period. Cypress Capital Group lifted its position in Deere & Company by 36.2% during the third quarter. Cypress Capital Group now owns 2,666 shares of the industrial products company's stock worth $1,113,000 after acquiring an additional 708 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in shares of Deere & Company by 435.2% during the third quarter. Thompson Siegel & Walmsley LLC now owns 15,108 shares of the industrial products company's stock worth $6,305,000 after acquiring an additional 12,285 shares during the period. Institutional investors own 68.58% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Citigroup increased their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Jefferies Financial Group cut shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Robert W. Baird reaffirmed a "neutral" rating and set a $501.00 price target on shares of Deere & Company in a research report on Monday, March 3rd. Finally, Baird R W cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $460.00.

Deere & Company Price Performance

Deere & Company stock traded up $4.55 during mid-day trading on Wednesday, reaching $483.48. The company had a trading volume of 811,162 shares, compared to its average volume of 1,356,136. The business has a fifty day simple moving average of $475.21 and a 200 day simple moving average of $438.25. The company has a market cap of $131.22 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.14 and a beta of 1.01. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $515.05. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. On average, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is currently 28.72%.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at $37,484,675.58. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company's stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.